R6 — the Case for a New Global Currency Basket

... have a currency that starts with R: the Chinese Renminbi, Russian Rouble, India’s Rupee, Brazils’ Real, Iran’s Rial and South Africa’s Rand. So why not considering a new currency called R6 or Robust, Resolve, Relay or Reform ? Establishing a new currency purpose oriented for trade among these six economies is long overdue. The Sr. Management of NDB can easily expand the remit of the bank by entering trade finance and project finance between these six countries alone. The bank could ask its shareholders to deploy and commit some of ...